Goldman, Inc., manufactures lead crystal glasses. Goldman, Inc.'s managers recently calculated the following: Variances after completing production of 6,900 glasses: Direct materials cost variance $1,932F Direct labor cost variance $8,280F Direct materials efficiency variance $1,380U Direct labor efficiency variance $12,420U Read the equirements. Requirement 1. For each variance, who in Goldman, Inc.'s organization is most likely responsible? Requirement 2. Interpret the direct materials and direct labor variances for Goldman, Inc.'s management. The 1,932 favorable direct materials cost variance indicates that the actual direct materials cost per pound was than the standard cost per pound. This Goldman, Inc.'s operating income by 1,932 . The 1,380 unfavorable direct materials efficiency variance indicates that the actual pounds used was than the total pounds allowed to manufacture the 6,900 glasses. This Goldman, Inc.'s operating income by 1,380 . Requirement 2. Interpret the direct materials and direct labor variances for Goldman, Inc.'s management. The 1,932 favorable direct materials cost variance indicates that the actual direct materials cost per pound was than the standard cost per pound. This Goldman, Inc.'s operating income by 1,932. The 1,380 unfavorable direct materials efficiency variance indicates that the actual pounds used was than the total pounds allowed to manufacture the 6,900 glasses. This Goldnitan, Inc.'s operating income by 1,380. The $8,280 favorable direct labor price variance means that Goldman, Inc.'s employees were paid per hour than budgeted. This Goldman, Inc.'s operating income by $8,280. The $12,420 unfavorable direct labor efficiency variance means that it actually took direct labor hours than were budgeted to produce 6,900 glasses. This Goldman, Inc.'s operating income by $12,420. Requirements 1. For each variance, who in Goldman, Inc.'s orgynization is most likely responsible? 2. Interpret the direct materials and direct labor variances for Goldman, Inc.'s management. The $8,280 favorable direct labor price variance means that Goldman, Inc.'s employees were p budgeted. This Goldman, Inc.'s operating income by $8,280. The $12,420 unfavorable direct labor efficiency variance means that it actually took Requirement 1. For each variance, who in Goldman, Inc.'s organization is most likely responsible? Direct materials cost variance Direct materials efficiency variance Direct labor cost variance Direct labor efficiency variance Requirement 2. Interpret the direct materials idman, Inc.'s manage The 1,932 favorable direct materials cost varic ct materials cost per p than the standard cost per pound. This income by 1,932 . The 1,380 unfavorable direct materials efficier tual pounds used was total pounds allowed to manufacture the 6.900 glasses. This t 2. Interpret the direct materials and direct labor variances for Goldman, Inc.'s management. vorable direct materials cost variance indicates that the actual direct materials cost per pound was idard cost per pound. This Goldman, Inc.'s operating income by 1,932 . nfavorable direct materials efficiency variance indicates that the actual pounds used was allowed to manufacture the 6,900 glasses. This Goldman, Inc.'s operating favorable direct labor price variance means that Goldman, Inc.'s employees were paid Goldman, Inc.'s operating income by $8,280. 0 unfavorable direct labor efficiency variance means that it actually took direct labor hours than were Direct labor efficiency variance Requirement 2. Interpret the direct materials and direct labor variances for Goldman, Inc.'s man The 1,932 favorable direct materials cost variance indicates that the actual direct materials cost than the standard cost per pound. This Goldman, Inc.'s operating income by 1,932. The 1,380 unfavorable direct materials i cates that the actual pounds used total pounds allowed to manufacture the Goldman, Inc.'s operat increased The $8,280 favorable direct labor price oldman, Inc.'s employees were paid decreased budgeted. This Goldman, a by $8,280. The $12,420 unfavorable direct labor efficiency variance means that it actually took direct